WealthBridge Investment Counsel Inc. Purchases 2,540 Shares of Micron Technology, Inc. (NASDAQ:MU)

WealthBridge Investment Counsel Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,790 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,540 shares during the period. WealthBridge Investment Counsel Inc.’s holdings in Micron Technology were worth $908,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MU. ProVise Management Group LLC acquired a new position in shares of Micron Technology during the second quarter worth $236,000. Intech Investment Management LLC raised its position in Micron Technology by 111.3% during the 2nd quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock worth $12,236,000 after purchasing an additional 49,001 shares during the last quarter. Ieq Capital LLC lifted its holdings in Micron Technology by 10.8% during the 2nd quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock worth $7,368,000 after buying an additional 5,473 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Micron Technology by 17.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock valued at $547,000 after buying an additional 618 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Micron Technology by 143.0% in the second quarter. AE Wealth Management LLC now owns 12,636 shares of the semiconductor manufacturer’s stock valued at $1,662,000 after buying an additional 7,435 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Raymond James upped their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird decreased their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Piper Sandler dropped their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group decreased their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Barclays lowered their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $105.75 on Friday. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a market cap of $117.82 billion, a P/E ratio of 30.48 and a beta of 1.18. The company has a 50 day moving average of $97.87 and a 200 day moving average of $102.48.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.95) EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.25 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is 13.26%.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.